Overview of the Global Market for Conveyor Or Transmission Belts Or Belting

Market Size for Conveyor Or Transmission Belts Or Belting

After two years of decline, the global conveyor or transmission belt market increased by 11% to $X in 2021. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Conveyor Or Transmission Belts Or Belting

In value terms, conveyor or transmission belt production rose rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 13%. Over the period under review, global production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports

In 2021, shipments abroad of conveyor or transmission belts or belting was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 26% against the previous year. The global exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, conveyor or transmission belt exports surged to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the key exporter of conveyor or transmission belts or belting, making up 45% of total exports. The United States (X tons) held the second position in the ranking, followed by Germany (X tons). All these countries together held approx. 13% share of total exports. The following exporters - Turkey (X tons), Poland (X tons), India (X tons), the Netherlands (X tons), Taiwan (Chinese) (X tons), Japan (X tons), Hungary (X tons), Thailand (X tons), Romania (X tons) and Russia (X tons) - together made up 25% of total exports.

Exports from China increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, Turkey (+14.3%), Germany (+9.0%), the Netherlands (+3.5%), India (+3.1%), Russia (+3.0%) and Thailand (+2.3%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.3% from 2012-2021. Poland, Hungary, Romania and the United States experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-3.3%) and Japan (-7.0%) illustrated a downward trend over the same period. While the share of China (+12 p.p.), Turkey (+2.9 p.p.) and Germany (+2.1 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the United States (-2.3 p.p.) and Japan (-2.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Germany ($X) and the United States ($X) constituted the countries with the highest levels of exports in 2021, with a combined 41% share of global exports. These countries were followed by Japan, Poland, the Netherlands, India, Thailand, Romania, Turkey, Taiwan (Chinese), Hungary and Russia, which together accounted for a further 27%.

Among the main exporting countries, Turkey, with a CAGR of +11.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average conveyor or transmission belt export price amounted to $X per ton, with an increase of 4.7% against the previous year. Over the period under review, the export price, however, saw a slight reduction. The most prominent rate of growth was recorded in 2016 an increase of 10% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.8%), while the other global leaders experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports

In 2021, after two years of decline, there was significant growth in purchases abroad of conveyor or transmission belts or belting, when their volume increased by 14% to X tons. Overall, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, conveyor or transmission belt imports surged to $X in 2021. In general, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons), followed by Germany (X tons) were the main importers of conveyor or transmission belts or belting, together generating 16% of total imports. Russia (X tons), Brazil (X tons), the Netherlands (X tons), Australia (X tons), South Africa (X tons), South Korea (X tons), Italy (X tons), Indonesia (X tons), France (X tons), India (X tons) and China (X tons) took a minor share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of conveyor or transmission belts or belting. At the same time, South Korea (+8.9%), the Netherlands (+5.6%), Brazil (+3.7%), India (+3.1%), Italy (+2.4%), South Africa (+2.1%), Russia (+1.3%) and France (+1.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +8.9% from 2012-2021. Indonesia, Germany and China experienced a relatively flat trend pattern. By contrast, Australia (-9.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Australia decreased by -4.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), Germany ($X) and Russia ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 21% of global imports. These countries were followed by France, China, Italy, Australia, Brazil, the Netherlands, South Korea, Indonesia, India and South Africa, which together accounted for a further 25%.

South Korea, with a CAGR of +4.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average conveyor or transmission belt import price stood at $X per ton in 2021, increasing by 5.6% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+5.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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